[Interesting Charts] Reliance Trading in Broader Range

Rajandran RApril 1, 2018

Reliance is trading in a broader range on the 4 hourly charts 870-950. Immediate selling pressure is witnessed in reliance as the indicator sentiment is holding negative and trading very close to the bottom range. It could add more pressure to Nifty futures if further sell-off is likely to witness in reliance. Immediate long term supports available at 200MA at 860 levels.

Nifty Daily charts with 200MA

Overall Price pushing down below 870 on lower side followed by price getting back into the consolidation zone is likely to be a bullish scenario in medium term.